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Data management specialist 1View Solutions is offering financial data managers a short cut to clean and consistent reference data that avoids the pursuit of a single golden copy. Instead it provides an outsourced service that matches internal data with reference data from vendors including Thomson Reuters, Interactive Data, SIX Telekurs and Exchange Data International (EDI).
Before there was Turquoise, there was Boat. And Boat, you’ll recall, was the industry’s answer to the then-incoming regulation designed to ensure that pan-European equity trades were reported to a mechanism available to all in a standardized way. This was required because Europe’s markets were about to fragment, due to the introduction of multilateral trading facilities (MTFs) and the disassembling of the prior (anticompetitive) practice of reporting trades through domestic exchanges.
Hong Kong-based CITIC Bank International has implemented Pricing Partners’ Price-it Excel derivatives pricing library to give its risk management team and derivatives business a clearer understanding of pricing and valuation around foreign exchange structured products.
Asset Control has extended data provision for risk management with the integration of direct access to DTCC Solutions’ Global Corporate Actions Validation Service (GCA VS) in its AC Plus data management platform.
Industry leading financial institutions are reaping operational benefits and avoiding significant unnecessary financial exposures by ensuring the quality and the timeliness of their corporate actions data. As well as minimising costs from operational disruption caused by incorrect or incomplete data, these firms are able to reduce the risk of litigation and compensation claims arising from corporate actions errors, allowing them to save on the capital they set aside to mitigate these risks and avoid reputational harm. In many cases, the amounts involved are measured in the millions, of pounds, euros or dollars.
The regulatory push for an international Legal Entity Identifier (LEI) is entering a crucial period with implementation due to begin in some regions this year. Reference Data Review spoke to Matthew Bastian from CUSIP Global Services to find out what to expect in 2012.
I love to be on the inside track, probably because it happens so rarely, and so I am sorely tempted to answer the Financial Stability Board’s (FSB) call for volunteers to participate in the private-sector LEI advisory panel that the industry group announced earlier this week. In fact, I haven’t felt quite so tempted since one of our reference data friends suggested I run for the managing directorship of the EDM Council.
But in that case – and most likely in this FSB one – my initial enthusiasm is dashed by two factors: 1) Grandad’s wise words (“Never volunteer for anything, son.”) and, 2) the use of the word ‘Expert’.
Apparently addressing growing industry concerns about the prospect of delays in adoption of the long-awaited legal entity identifier (LEI), the Financial Stability Board (FSB) has set up an expert group to make what it describes as “concrete proposals” on the implementation of a global LEI system. At its meeting in Basel this week, the FSB said the group would bring together experts from the official sector but would be supported by an advisory panel with members derived from the private sector.
High on the long, long list of the late Steve Jobs’ acts of genius was his decision to go against his own instinct and open up the iPhone/iPAD to third-party developers to create the App Store, a true game-changer. That got me to thinking that Thomson Reuters and the EU could be missing a trick with their ongoing correspondence about for extending access to the Reuters Instrument Code (RIC) [see more here].
Rather than focusing on a withering segment of the marketplace – consolidated data feeds – what if Thomson Reuters went the whole hog and opened up RICs to everyone? And then encouraged everyone to develop and market their own applications through the ‘RIC Store’, using RICs to access the data required? Drawing on its 4,000+ list of client developers, the result would be a trading and investment application marketplace. Hedgehogs.net on steroids. Tantalising.



















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